eurusd trade idea 12072011
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Karen Jones | Technical Analysis Research | Tuesday, 12 July 2011
EUR/USD is looking over-stretched near term and we would like to re-sell the rebound.Chart Watch
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1Karen Jones | Technical Analysis Research | Tuesday, 12 July 2011
Technical Trade Ideas
Long 1.1711, current1.1867
1.2150Raise profit stopto 1.1765
Buy at market(1.1711). Add
1.1650
Buy NOK/SEK05.07.2011
1.37001.4225Sell 1.4020,
1.4095Sell EUR/USD12.07.2011
Short 1.6082, current1.5817
1.5550Lower stop1.6020
Sell 1.6025,1.6140
Sell GBP/USD27.06.2011
Take ProfitStop Outcome P<rade IdeaInstrumentDate
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2Karen Jones | Technical Analysis Research | Tuesday, 12 July 2011
EUR/USD 60 minute chart
Hourly RSI has diverged and
intraday we are seeing acorrective rebound. The 200week ma is located at 1.4024,the 38.2% and 50%retracement of the movelower seen in July so far lie at1.4120, 1.4210
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3Karen Jones | Technical Analysis Research | Tuesday, 12 July 2011
EUR/USD daily chartMarket has broken down from its symmetrical triangle and markets frequently do a 'return topoint of break out' ahead off another move lower.
Daily
Market has broken downfrom triangle and this now
offers resistance at1.4161
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4Karen Jones | Technical Analysis Research | Tuesday, 12 July 2011
Technical Signals
Market is trendingbut not yet
registering abullish or bearishsignal
Is the market trending?
Is ADX>20
YES
NO
Market is nottrending
If MACD>zero
And +DI>-DI
Then Bullishtrending signal
If MACD< zero
And +DI<-DI
Then Bearishtrending signal
Neither criteria ismet
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Karen Jones | Technical Analysis Research | Tuesday, 12 July 2011
Other technical analysis reports we publish are:
Monday: Daily Market Technicals (FX), FX Emerging Markets Technicals, Strategic Technical Themes;
Tuesday: Daily Market Technicals (FX); Bullion Weekly Technicals;
Wednesday: Daily Market Technicals (FX), Commodity Weekly & Commodity Currencies Weekly Technicals;
Thursday: Daily Market Technicals (FX);
Friday: Daily Market Technicals (FX), Fixed Income Weekly Technicals.
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Karen Jones | Technical Analysis Research | Tuesday, 12 July 2011
Karen JonesHead of FICC Technical Analysis
Tel. +44 207 475 1425
Mail [email protected]
ZentraleKaiserplatzFrankfurt am Mainwww.commerzbank.de
Postfachanschrift60261 Frankfurt am MainTel. +49 (0)69 / 136-20Mail [email protected]
Axel RudolphSenior Technical Analyst
Tel. +44 207 475 5721
Mail [email protected]